Kodak Is Launching Own Cryptocurrency

U.S. technology firm Kodak has announced that it will launch its own cryptocurrency, with plans to host an initial coin offering (ICO) at the end of January. In an official announcement, Kodak said the cryptocurrency would underpin “an encrypted, digital ledger of rights ownership for photographers.” Kodak is working with a company called WENN Digital on the initiative. The idea is that photographers could use Kodak’s forthcoming blockchain to register works, with “KODAKCoin” functioning as a medium of exchange on…

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The Man Traveling The World On $25 Million Of Bitcoin Profits

Last month, I found myself sitting next to a multimillionaire in the 56th-floor Horizon Club Lounge of the Island Shangri-La Hong Kong. He made no attempt to hide the fact that he was swimming in cash; I just wouldn’t have guessed he had made it all from Bitcoin. This is how he did it. Mr. Smith—who asked me to conceal his real name—has been traveling the world in ultra-luxurious style for the past four years. He only flies first class,…

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Man who ‘threw away’ $140m of Bitcoin

A MAN who has $140 million worth of Bitcoin stored on a computer he accidentally threw away is offering the council 10 per cent of his fortune if they allow him onto the site to hunt for it. James Howells, 32, from Wales, invested heavily in Bitcoin, dubbed “digital gold,” long before it was widely known, The Sun reports. But four years ago he threw out an old computer on whose hard drive were the ownership codes of his 7500…

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The Bitcoin Whales: 1,000 People Who Own 40 Percent of the Market

On Nov. 12, someone moved almost 25,000 bitcoins, worth about $159 million at the time, to an online exchange. The news soon rippled through online forums, with bitcoin traders arguing about whether it meant the owner was about to sell the digital currency. Holders of large amounts of bitcoin are often known as whales. And they’re becoming a worry for investors. They can send prices plummeting by selling even a portion of their holdings. And those sales are more probable…

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Wall Street banks push back on launch of bitcoin futures

The world’s largest banks are pushing back on the introduction of bitcoin futures, raising concerns with US regulators that the financial system is ill-prepared for the launch of the contracts as the value of the volatile cryptocurrency has soared. The price of bitcoin has risen to a new high of more than $15,000 on several exchanges. Institutional nvestors have been keen to trade the asset but only via a regulated market. However, the planned launch in the next 10 days…

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Wells Fargo Bankers Overcharged Hundreds In Latest Scandal

Wells Fargo bankers chasing bonuses charged hundreds of clients inflated foreign transaction fees, The Wall Street Journal reported Monday. The report comes just over a year since Wells Fargo paid a $185 million fine for “widespread illegal” sales practices involving fees on 2 million deposit and credit-card accounts opened without customers’ knowledge. An internal Wells Fargo review in the latest breach showed that only 35 business clients out of about 300 were charged the actual price they had been quoted…

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Why Wall Street Is Getting Worried About Apple’s Stock Price

Since shares hit an all-time record of over $176 a few weeks ago, Wall Street analysts have been growing more cautious. On Monday, several warned investors that even hot sales of new iPhones and the expected benefits of a big tax cut might not be enough to propel the shares much higher. As the analysts weighed in, Apple’s stock declined slightly, losing 0.2% to $174.63 in early trading on Monday. That gave the company a stock market value of just…

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Trump Likely Benefits from Tax Bills

President Donald Trump claimed that the Republican tax plans in Congress would “cost me a fortune.” He has offered no proof of that, and it’s highly doubtful. Several provisions of the tax bills would benefit wealthy individuals like Trump. This isn’t the first time that the president has claimed that a tax overhaul wouldn’t be good for him, or the wealthy, despite analyses of the tax plans that show most of the benefits accruing to the top income earners. But we can’t say exactly…

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Hidden Victim of Trump’s Tax Plan: Your Health Insurance

Senate Republicans have spent most of the past month looking for measures to offset the cost of their enormous tax giveaway to rich households and corporations. They plan to vote on the bill, which is supported by President Donald Trump, Friday. A few weeks ago, they settled on repealing the individual mandate in the Affordable Care Act, more commonly known as Obamacare. This mandate imposes a monetary penalty on those who cannot prove that they had qualifying health insurance over the past year….

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Trump antagonists and Arizona senators are key to tax plan’s success

Under normal circumstances, Arizona’s Republican senators would be easy gets for the Senate GOP tax bill. Sens. John McCain and Jeff Flake are anything but. Their resistance promises to thrust the Grand Canyon State duo into a starring role in the drama unfolding this week in the Senate, as leaders race to salvage the party’s legislative agenda. And it demonstrates how far through the looking glass we’ve passed in a matter of months that such a bedrock conservative project could…

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